Cutting tools can have a tool body that can be provided with an outer insert receiving pocket for retaining a grooving/parting insert therein and an inner insert receiving pocket for releasably retaining a chamfering cutting insert therein by a clamping member. Examples of such cutting tools are disclosed in, for example, U.S. Pat. No. 9,162,296 and WO 1999/028073, where the clamping member is a retaining screw.
Other cutting tools can be provided with a cutting insert that performs a dual cutting role. Such a cutting insert is provided with a parting section to part the workpiece and a chamfering section to chamfer the workpiece after the parting process is compete. An example of such cutting insert is disclosed in, for example, WO 2008/140191.